ASML said it now views artificial intelligence as the dominant engine of product demand, a shift from an earlier assessment that AI would account for only a limited share of customer needs. The change in stance was disclosed in the company's annual report and reflects an acceleration in customer capacity expansions driven by AI workloads at the end of last year.
Christophe Fouquet, the company's chief executive, described the emergence of new and significant AI demand as a "powerful trend" that the company expects to persist into the current year and beyond. ASML, the world's largest supplier of lithography equipment used to produce advanced chips, said this pattern is already shaping purchases of its systems.
In its report, ASML outlined expectations for continued growth in the semiconductor market, stating: "We anticipate continued growth in the semiconductor market driven by strong demand for AI logic and memory products, along with high pricing resulting from supply-demand imbalances. This is expected to drive demand for growth in the equipment market."
Financial results released for the full year showed sales rose 15.6% versus the prior year, reaching 32.7 billion euros for 2025. Gross profit margin increased modestly to 52.8%. The company also highlighted a backlog of 38.8 billion euros, which it described as a "healthy level" of business on the books.
At the same time, ASML warned of a "high degree of geopolitical and market uncertainty" during 2025, citing rapidly evolving tariff negotiations and a variable outlook for the global economy. The group referenced IMF figures indicating worldwide activity slowed to 3.2% last year, compared with upwardly revised estimates of 3.3%.
ASML noted that a slowdown in GDP growth is typically not a tailwind for a strong semiconductor cycle, even while very high growth in AI chip demand propelled the overall semiconductor market to double-digit full-year expansion. The company emphasized the growing strategic importance of advanced chips, saying access to cutting-edge semiconductors has become increasingly important for countries pursuing technological leadership and security.
Looking ahead, ASML said it intends to engage with governments as nations consider increased construction of chip manufacturing facilities across the U.S., Europe and Asia. The company framed this cooperation as part of broader industry dynamics as policymakers and manufacturers respond to AI-driven demand for logic and memory products.
Key facts
- Full-year 2025 sales: 32.7 billion euros, up 15.6% year-on-year.
- Gross profit margin for 2025: 52.8%.
- Order backlog: 38.8 billion euros.